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Wal-Mart and other major retailers plan to ask a New York federal court to reopen and overturn the multibillion-dollar deal Visa, MasterCard and several banks reached with retailers challenging fees charged to process credit card transactions. (Credit: AP)

Retailers Want $7B Interchange Fee Deal Nixed On Misconduct

Wal-Mart Stores Inc., Amazon.com Inc. and other retail giants will ask a judge Tuesday to overturn the $7.25 billion antitrust settlement Visa Inc. and MasterCard Inc. reached over their interchange fees in light of the revelation that a former MasterCard lawyer and a plaintiffs' attorney shared confidential information in the multidistrict litigation.

  • NSA To Destroy Data Collected Under Phone Spying Program

    The National Security Agency will destroy records from its massive collection of domestic telephone metadata as soon as pending litigation is resolved, the government said on Monday, as the Ninth Circuit halted a challenge to the recently granted six-month extension of the controversial program, pending a similar Second Circuit appeal.

  • AT&T Calls FCC's Proposed $100M Fine Irresponsible, Unfair

    AT&T has fired back at the Federal Communications Commission’s proposed $100 million fine over its allegedly misleading unlimited data plan, telling the agency its notice of apparent liability is both “unprecedented and indefensible,” according to a filing obtained Monday.

  • 2nd Circ. Says Ford, IBM Not Liable For Aiding Apartheid

    The Second Circuit ruled Monday that Ford Motor Co. and IBM Corp. cannot be held liable in the U.S. for selling identification technology and military vehicles to South Africa while under apartheid that allegedly facilitated the country’s human rights abuses because the alleged conduct was largely perpetrated outside the U.S.

  • Halliburton Investors Win Class Cert. Post-High Court Appeal

    A Texas federal court on Monday granted class certification in part to investors suing Halliburton Co. in the landmark case that had made two trips to the U.S. Supreme Court.

  • Teva Inks $40.5B Deal For Allergan Generics Unit

    Teva Pharmaceutical Industries Ltd., guided by Sullivan & Cromwell LLP, has inked a deal to pay $40.5 billion in cash and stock for the generic-drug business of Allergan plc instead of continuing to pursue a hostile bid for Mylan NV, Teva said Monday.

  • Fiat Chrysler Hit With Record $105M Fine By NHTSA

    The National Highway Traffic Safety Administration hit Fiat Chrysler Automobiles US LLC with a $105 million civil penalty Sunday for failing to complete 23 recalls covering more than 11 million vehicles, the largest fine ever levied by the regulator.

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